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Economic effects of natural disasters

Author

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  • Tatyana Deryugina

    (University of Illinois at Urbana-Champaign, USA, and IZA, Germany)

Abstract

Extreme weather events are increasing in frequency and intensity, threatening lives and livelihoods around the world. Understanding the short- and long-term effects of such events is necessary for crafting optimal policy. The short-term economic impacts of natural disasters can be severe, suggesting that policies that better insure against consumption losses during this time would be beneficial. Longer-term economic impacts are more complex and depend on the characteristics of the affected population and the affected area, changes in migration patterns, and public policy.

Suggested Citation

  • Tatyana Deryugina, 2022. "Economic effects of natural disasters," IZA World of Labor, Institute of Labor Economics (IZA), pages 493-493, April.
    • Handle: RePEc:iza:izawol:journl:2022:n:493
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    References listed on IDEAS

    as
    1. Eric Strobl, 2011. "The Economic Growth Impact of Hurricanes: Evidence from U.S. Coastal Counties," The Review of Economics and Statistics, MIT Press, vol. 93(2), pages 575-589, May.
    2. Tatyana Deryugina & Laura Kawano & Steven Levitt, 2018. "The Economic Impact of Hurricane Katrina on Its Victims: Evidence from Individual Tax Returns," American Economic Journal: Applied Economics, American Economic Association, vol. 10(2), pages 202-233, April.
    3. Jeffrey A. Groen & Mark J. Kutzbach & Anne E. Polivka, 2020. "Storms and Jobs: The Effect of Hurricanes on Individuals’ Employment and Earnings over the Long Term," Journal of Labor Economics, University of Chicago Press, vol. 38(3), pages 653-685.
    4. Tatyana Deryugina & David Molitor, 2020. "Does When You Die Depend on Where You Live? Evidence from Hurricane Katrina," American Economic Review, American Economic Association, vol. 110(11), pages 3602-3633, November.
    5. Tatyana Deryugina, 2017. "The Fiscal Cost of Hurricanes: Disaster Aid versus Social Insurance," American Economic Journal: Economic Policy, American Economic Association, vol. 9(3), pages 168-198, August.
    6. Sastry, Narayan & Gregory, Jesse, 2013. "The effect of Hurricane Katrina on the prevalence of health impairments and disability among adults in New Orleans: Differences by age, race, and sex," Social Science & Medicine, Elsevier, vol. 80(C), pages 121-129.
    7. Jeffrey A. Groen & Mark J. Kutzbach & Anne E. Polivka, 2020. "Storms and Jobs: The Effect of Hurricanes on Individuals’ Employment and Earnings over the Long Term," Journal of Labor Economics, University of Chicago Press, vol. 38(3), pages 653-685.
    8. André Gröger & Yanos Zylberberg, 2016. "Internal Labor Migration as a Shock Coping Strategy: Evidence from a Typhoon," American Economic Journal: Applied Economics, American Economic Association, vol. 8(2), pages 123-153, April.
    9. Raker, Ethan J. & Lowe, Sarah R. & Arcaya, Mariana C. & Johnson, Sydney T. & Rhodes, Jean & Waters, Mary C., 2019. "Twelve years later: The long-term mental health consequences of Hurricane Katrina," Social Science & Medicine, Elsevier, vol. 242(C).
    10. Boustan, Leah Platt & Kahn, Matthew E. & Rhode, Paul W. & Yanguas, Maria Lucia, 2020. "The effect of natural disasters on economic activity in US counties: A century of data," Journal of Urban Economics, Elsevier, vol. 118(C).
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    Cited by:

    1. Stefano Clò & Francesco David & Samuele Segoni, 2024. "The impact of hydrogeological events on firms: evidence from Italy," Temi di discussione (Economic working papers) 1451, Bank of Italy, Economic Research and International Relations Area.
    2. Meier, Sarah & Elliott, Robert J.R. & Strobl, Eric, 2023. "The regional economic impact of wildfires: Evidence from Southern Europe," Journal of Environmental Economics and Management, Elsevier, vol. 118(C).
    3. Agarwal, Sumit & Ghosh, Pulak & Zheng, Huanhuan, 2024. "Consumption response to a natural disaster: Evidence of price and income shocks from Chennai flood," Energy Economics, Elsevier, vol. 131(C).

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    More about this item

    Keywords

    natural disasters; disaster aid; migration; labor market outcomes; health effects;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • O15 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Economic Development: Human Resources; Human Development; Income Distribution; Migration
    • J01 - Labor and Demographic Economics - - General - - - Labor Economics: General

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